* With effect from April 1, 2009, the Group has changed certain classifications in the Balance Sheet:
1. Future billing discounts previously netted with trade receivables have been reclassified to other payables.
^ During FY16, the Group has finalized the fair value assessments for the net assets acquired from the business combination activities in respect of Motorola Mobility Group and X86 server hardware and related maintenance services business of IBM.
On completion of the fair value assessments, adjustments made to provisional calculation of identifiable assets and liabilities amounted to US$296m. The comparative consolidated balance sheet as Mar 31, 2015 has been restrospectively reclassified to reflect the final allocation of fair values of the net assets acquired in FY15.

2016

2015

2014

2013

2012

2011

2010

For the year ended March 31

US$'000

US$'000

US$'000

US$'000

US$'000

US$'000

US$'000

Continuing operations

Cash flows from operating activities

Net cash generated from operations

841,292

669,020

1,640,386

245,383

2,126,765

1,089,097

976,873

Interest paid

(194,841)

(133,547)

(71,199)

(33,452)

(38,477)

(48,089)

(59,891)

Tax paid

(354,190)

(296,981)

(137,129)

(192,401)

(148,332)

(75,754)

(82,231)

Net cash generated from / (used in) operating activities

292,261

238,492

1,432,058

19,530

1,939,956

965,254

834,751

Cash flows from investing activities

Purchase of property, plant and equipment

(203,231)

(258,599)

(177,562)

(106,331)

(101,238)

(48,834)

(36,144)

Sale of property, plant and equipment

91,723

9,181

9,106

2,266

6,311

8,440

8,762

Sale of intangible assets

-

-

-

25

-

Acquisition of subsidiaries, net of cash acquired

-

(2,325,726)

-

(137,052)

(172,316)

-

(106,704)

Interest acquired in jointly controlled entities

(5,815)

(7,911)

(8,769)

-

(3,237)

-

11,982

Payment for construction-in-progress

(400,585)

(347,506)

(388,238)

(277,003)

(205,601)

(78,531)

(39,979)

Payment for intangible assets

(147,447)

(296,689)

(109,544)

(57,978)

(22,354)

(20,297)

(32,320)

Payment for prepaid lease payments

(176,101)

(69,903)

-

(5,026)

Purchase of available-for-sale financial assets

(69,255)

(32,596)

(8,550)

(4,104)

(10,055)

Net proceeds from disposal of financial instruments

4,915

-

41,348

-

-

21,398

89,538

Proceeds from disposal of associate

-

-

-

-

145

-

-

(Decrease) / increase in bank deposits

18,803

16,645

24,070

294,617

(371,514)

158,298

(172,126)

Dividend received

532

305

547

362

95

93

1,558

Interest received

32,816

30,902

33,893

44,881

42,693

24,927

20,377

Net cash (used in) / generated from investing activities

(853,645)

(3,281,897)

(583,699)

(245,368)

(837,071)

65,519

(255,056)

Cash flows from financing activities

Exercise of share options

-

385

5,946

6,403

10,889

25,116

13,640

Repurchase of shares

-

-

(45,304)

(44,122)

-

(86,610)

-

Contributions to employee share trusts

(171,317)

(129,365)

(100,688)

(91,280)

-

-

-

Capital contribution from non-controlling interest

20,000

-

-

147,700

De-recognition of contigent consideration

-

-

-

(119,991)

Dividends paid

(379,367)

(326,930)

(266,692)

(194,676)

(114,687)

(87,870)

(11,896)

Increase in ownership interest in a subsidiary

-

-

-

(1,493)

Net increase / (decrease) in bank borrowings

(415,341)

1,109,540

(23,369)

229,256

(211,726)

(223,145)

(218,884)

Issue of long term notes

640,895

1,488,980

Net cash (used in) / generated from financing activities

(305,130)

2,142,610

(430,107)

(68,203)

(315,524)

(372,509)

(217,140)

(Decrease) / Increase in cash and cash equivalents

(866,514)

(900,795)

418,252

(294,041)

787,361

658,264

362,555

Discontinued operations

Decrease in cash and cash equivalents from discontinued operations

-

-

Effect of foreign exchange rate changes

(61,829)

(102,126)

(14,190)

(9,529)

15,793

58,039

12,261

Cash and cash equivalents at the beginning of the year

2,855,223

3,858,144

3,454,082

3,757,652

2,954,498

2,238,195

1,863,379

Cash and cash equivalents at the end of the year

1,926,880

2,855,223

3,858,144

3,454,082

3,757,652

2,954,498

2,238,195

2016

2015

2014

2013**

For the year ended March 31

US$’000

US$’000

US$’000

US$’000

Continuing operations

Revenue

44,912,097

46,295,593

38,707,129

33,873,401

Cost of sales

(38,288,160)

(39,613,780)

(33,643,480)

(29,446,358)

Gross profit

6,623,937

6,681,813

5,063,649

4,427,043

Other income/(expenses) - net

2,185

1,490

22,427

19,907

Selling and distribution expenses

(2,372,833)

(2,302,182)

(1,900,005)

(1,888,101)

Administrative expenses

(2,108,747)

(1,883,114)

(1,402,979)

(1,199,841)

Research and development expenses

(1,491,370)

(1,220,919)

(732,454)

(623,987)

Other operating income/(expenses) - net

(714,993)

(168,574)

1,417

64,984

Operating (loss)/profit

(61,821)

1,108,514

1,052,055

800,005

Finance income

32,816

30,902

33,893

44,881

Finance costs

(236,751)

(185,504)

(80,974)

(42,869)

Share of profits/(losses) of associates and joint venture

(11,095)

17,055

9,221

(718)

Profit/(loss) before taxation

(276,851)

970,967

1,014,195

801,299

Taxation

132,276

(134,364)

(196,725)

(169,707)

Profit/(loss) from continuing operations

(144,575)

836,603

817,470

631,592

Discontinued operations

Profit/(loss) from discontinued operations

-

-

-

-

Profit/(loss) for the year

(144,575)

836,603

817,470

631,592

Profit/(loss) attributable to:

Equity holders of the Company

(128,146)

828,715

817,228

635,148

Non-controlling interests

(16,429)

7,888

242

(3,556)

(144,575)

836,603

817,470

631,592

Dividends

379,316

379,646

321,875

247,674

Earnings/(loss) per share attributed to equity holders of the company (US cents)

Basic

- Continuing operations

(1.16)

7.77

7.88

6.16

- Discontinued operations

0.00

0.00

0.00

0.00

(1.16)

7.77

7.88

6.16

Diluted

- Continuing operations

(1.16)

7.69

7.78

6.07

- Discontinued operations

0.00

0.00

0.00

0.00

(1.16)

7.69

7.78

6.07

* With effect from April 1, 2009, the Group has changed certain classifications in the Income Statement:
1. Exchange (loss)/gain on cash flow hedges previously recorded in other operating income/(expenses) has been reclassified to sales and cost of sales respectively
2. Costs associated with factoring previously recorded in other operating expense have been reclassified to finance costs

** With effect from April 1, 2013, the Group has re-organized its structure into 2 end-to-end business groups (Lenovo Business Group and Think Business Group):
1. Certain overhead costs that were included as part of the cost of sales in the previous years have been reclassified to administrative expenses.

Earnings per share attributed to equity holders of the company (US cents)

Basic

1.42

1.57

1.63

2.71

(6.43)

0.95

Diluted

1.42

1.56

1.62

2.70

(6.43)

0.94

*Management reviewed the overhead expenses included as part of the COGS and noted it is more appropriate to include these expenses as part of the administrative expenses. FY1213 result has been restated accordingly